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Leading American fashion brands have committed to invest Ksh 7.5 billion in the Kenyan apparel industry as the two countries move to deepen trade ties.
Speaking during the launch of the first U.S-Kenya Business Road-show in New York City, US ambassador to Kenya Meg Whitman said the six new co-investments will connect American buyers with Kenyan manufacturers easing business connections between the two countries.
“I announced six new US Government and private sector co-investments valued at $55 million connecting American apparel companies with Kenyan manufacturers, creating more jobs in both countries and making it easier to do business together,” said Whitman.
Kenya and the United States of America have kicked off a three-day trade road show in major US cities to promote Kenya as a favorable investment destination for American companies.
Some of the companies that participated in the road-show include NBA, Mastercard, Copia Global, Equity Bank, The Children’s Place, and PVH, which leads iconic clothing brands like Calvin Klein and Tommy Hilfiger.
A statement from the US government has said the co-investments include MAS Intimates, which will provide training for Kenyan workers, UAL, which will increase apparel exports to the U.S. market by building a one-stop shop in Kenya, Mega, which will expand production capacity by adding new production lines and NexGen, which will set up a factory in Kenya to manufacture tags and labels for branding products in apparel and footwear.